Research On China’s Financial Sector To Promote The Enterprise Green Development

Finance is an important way to optimize the allocation of resources and regulate thecapital flows, so that the financial institutions can be a strong force in solving theenvironmental problems of the whole society. At the same time, under the background of theexcessive consumption of resources and the environment deteriorating, the rise of the greeneconomic determines the need for enterprise green development. The need of the environmentprotection forcing enterprise must take the environmental factors as an important element inthe enterprise development strategy. In this context, financial institutions promoting thecorporate green development and reduce environmental pollution, is not only the socialresponsibility of financial institutions, but also have a close relationship with its ownlong-term interests. The Chinese government has always attached importance to the role ofthe financial institutions play in promoting the enterprise energy conservation andenvironmental protection. But, there is still little in-depth research on both the domesticfinancial industry green development and enterprise green development combined.First, we create the credit-economic index, credit-pollution index and the credit-energyconsumption index to determine the direction of the credit supply impact on the socialeconomic benefits and social environmental benefits, the result is,since2008the socialbenefits of the development of the credit is positive, the development of credit had promotethe economic growth,but it didn’t drive a greater growth of enterprise pollutant emissions,instead it inhibited Pollutant emissions growth rate to some extent. Secondly, we use bothsupply and demand curves and the production curve analysis the way of the financial sector topromote enterprise green development from two perspectives base on the theory of corporatesocial responsibility and sustainable development. The results are the emission of pollutantsand credit supply is negatively related, show that the credit growth inhibited the growth ofcorporate emissions of pollutants to some extent; There is a positive correlation between eachpollutant emissions and GDP, shows that economic growth is still based on the expense of theenvironment to some extent; there is a positive correlation between energy consumption andGDP as well as supply of credit and GDP, show that China’s economic growth is still at thecost of high consumption to some extent. The survey shows that corporate green development is still facing the financial and technical problems. In addition, we collect and collate thedetails of international cases of the financial sector to promote corporate green developmentand the China Banking promote enterprise energy saving practices to provide a reference onthe use of the financial industry in China to promote green development. Finally, the paperdiscusses the financial sector to promote green development status and awareness of theexistence of obstacles, constraints of interest, institutional constraints and financialinstitutions and enterprises internal management mechanism constraints, at the same time,weproposed some corresponding countermeasures like reference Equator Principles to developclassification criteria of the finance companies to promote financial institutions research andthe establishment of the special department of environmental risk management in financialinstitutions; strengthen the co-ordination of environmental fiscal and financial institutions toreduce the financial institutions in the interests of the green credit constraints; strengtheningfinancial institutions to promote green development of legally binding and strengthen thesupervision of the green credit and complete the green credit system.